| [X]            | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                                 |
|----------------|----------------------------------------------------------------------------------------------------------------------|
|           | For the fiscal year ended December 31, 2012                                                                     |
|           | OR                                                                                                                   |
| [  ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934                             |
|           | For the transition period from  ______________     to  ________________ |

| SUNSHINE FINANCIAL, INC.                               |
|--------------------------------------------------------|
| (Exact Name of Registrant as Specified in its Charter) |

| MARYLAND                                                       |   | 36-4678532                           |
|----------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |
|                                                           |   |                                 |
| 1400 EAST PARK AVENUE, TALLAHASSEE, FLORIDA                    |   | 32301                                |
| (Address of principal executive offices)                       |   | (Zip Code)                           |

| Large accelerated filer [  ] | Accelerated filer [  ] | Non-accelerated filer [  ]        | Smaller reporting company [X] |
|----------------------------------------|----------------------------------|---------------------------------------------|-------------------------------|
|                                   |                             | (Do not check if smaller reporting company) |                          |

|                           | SUNSHINE FINANCIAL, INC. |
|--------------------------------|--------------------------|
|                           |                     |   |
|                           |                     |   |
| Date:  April 1, 2013 | By:                      | /s/ Louis O. Davis, Jr. |
|                           |                     | Louis O. Davis, Jr., President and Chief Executive Officer |
|                           |                     | Duly Authorized Representative) |

| /s/ Louis O. Davis, Jr.                                                                                           Louis O. Davis Jr., President,  Chief Executive Officer and Director   (Duly authorized representative and Principal Executive Officer) | Date:  April 1, 2013       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|
|  /s/ Benjamin F.Betts, Jr.*                                                                                           Benjamin F. Betts, Jr., Chairman of the Board and Director                                                                                              |  Date:  April 1, 2013 |
|  /s/ Patrick E. Lyons*                                                                                           Patrick E. Lyons, Director                                                                                                                                   |  Date:  April 1, 2013 |
|  /s/ Doris K. Richter*                                                                                           Doris K. Richter, Director                                                                                                                                   |  Date:  April 1, 2013 |
|  /s/ Fred G. Shelfer*                                                                                           Fred G. Shelfer, Director                                                                                                                                     |  Date:  April 1, 2013 |
|  /s/ Robert K. Bacon*                                                                                           Robert K. Bacon, Director                                                                                                                                     |  Date:  April 1, 2013 |
|  /s/ Joyce E. Chastain*                                                                                           Joyce E. Chastain, Director                                                                                                                                 |  Date:  April 1, 2013 |
|  /s/ Brian P. Baggett*                                                                                           Brian P. Baggett, Director                                                                                                                                   |  Date:  April 1, 2013 |
|  /s/ Scott A. Swain                                                                                           Scott A. Swain, Senior Vice President, Chief Financial Officer   and Treasurer  (Principal Financial and Accounting Officer)           |  Date:  April 1, 2013 |

|  Exhibits: |
|-----------------|
| 2.0             | Plan of Conversion and Reorganization (incorporated herein by reference to Exhibit 2.0 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 3.1             | Articles of Incorporation of Sunshine Financial, Inc. (incorporated herein by reference to Exhibit 3.1 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 3.2             | Bylaws of Sunshine Financial, Inc. (incorporated herein by reference to Exhibit 3.2 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 4.0             | Form of Common Stock Certificate of Sunshine Financial, Inc. (incorporated herein by reference to Exhibit 4.0 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 10.1            | Employment Agreement by and between Sunshine Savings Bank and Louis O Davis, Jr. (incorporated herein by reference to Exhibit 10.1 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 10.2            | Form of Change of Control Agreement by and between Sunshine Financial, Inc. and Louis O. Davis Jr. (incorporated herein by reference to Exhibit 10.2 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 10.3            | Form of Change of Control Agreement by and between Sunshine Financial, Inc. and each of Brian P. Baggett and Scott A. Swain (incorporated herein by reference to Exhibit 10.3 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 10.4            | Employee Severance Policy (incorporated herein by reference to Exhibit 10.4 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 10.5            | Director Fee Arrangements (incorporated herein by reference to Exhibit 10.5 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (File No. 000-54280)) |
| 10.6            | Sunshine Financial, Inc. 2012 Equity Incentive Plan (incorporated herein by reference to Appendix A to the Registrant's Definitive Proxy Statement filed on Schedule 14A on April 20, 2012 (File No. 000-54280)) |
| 10.7            | Forms of Incentive Stock Option, Non-Qualified Stock Option and Restricted Stock Agreements under the 2012 Equity Incentive Plan (incorporated by reference to the Exhibits to the Registrant's Registration Statement on Form S-8 filed with the SEC on June 29, 2012 (File No. 333-182450)) |
| 11.0            | Statement re computation of per share earnings (See Note1 of the Notes to Consolidated Financial Statements included in this Form10-K). |
| 21.0            | Subsidiaries of the registrant (incorporated herein by reference to Exhibit 21.0 to the Registrant’s Registration Statement on Form S-1, as amended (File No. 333-169555)) |
| 23.0            | Consent of Accountants |
| 24.0            | Power of Attorney (on signature page) # |
| 31.1            | Rule 13a-14(a) Certification of the Chief Executive Officer # |
| 31.2            | Rule 13a-14(a) Certification of the Chief Financial Officer # |
| 32.0            | Section 1350 Certification # |
| 101             | Interactive Data Files*# |